Cash-strapped Chinese city calls in debts.

Wuhan, the largest city in central China, has publicly demanded that hundreds of local companies repay their debts, as the city faces dire financial challenges due to the Covid-19 pandemic and a real estate crash. The city's finance bureau said that a total of 259 companies and entities owed it more than $14 million combined. The debtors include state or privately owned companies, government departments, and think tanks. The announcement highlights the fiscal challenges facing China's local governments, with some cities already slashing medical benefits to seniors and other vital services at risk.